What does the maturity of a bond indicate?
The date at which the bond is paid off.
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A nominal anchor promotes price stability by
A) outlawing inflation. B) stabilizing interest rates. C) keeping inflation expectations low. D) keeping economic growth low.
Which of the following is an example of a moral hazard?
a. A student committing suicide after failing in an examination. b. A housekeeper leaving a house unlocked after insuring it against burglary. c. An exporter delivering faulty products after receiving a certain fraction of the total payment. d. A person deriving utility from a commodity without paying for it.
Keynes's absolute income hypothesis asserts that consumption
a. increases as income increases, but at a constant rate b. decreases as income increases, but at a constant rate c. increases as income decreases, but at a constant rate d. increases as income increases, but at a decreasing rate e. decreases as income increases, but at an increasing rate
Total surplus is represented by the area below the
a. demand curve and above the price. b. price and up to the point of equilibrium. c. demand curve and above the supply curve, up to the equilibrium quantity. d. demand curve and above the horizontal axis, up to the equilibrium quantity.